Category Archives: oil and gas

BC Going to Court After Alberta Restricts Fuel

Let’s get ready to rumblllllllllllle!:

Tensions over the Trans Mountain pipeline increased Thursday with British Columbia announcing plans to launch a lawsuit over new Alberta legislation that could restrict fuel exports to the West Coast.

B.C. Attorney General David Eby said his province will ask the Court of Queen’s Bench in Alberta to declare the legislation unconstitutional on the grounds that one province cannot punish another.

The bill, which allows limits on fuel exports to B.C., was passed by Alberta’s legislature on Wednesday.

If Alberta moves to implement the act, B.C. will apply for an injunction and seek damages, Eby said.

 

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Morneau Eyes Kinder Morgan Pensions

He’s at it again:

Canada’s Finance Minister Bill Morneau on Thursday highlighted the country’s pension funds as possible investors in Kinder Morgan Inc’s (NYSE:KMINews) pipeline expansion, but industry sources were skeptical about attracting new investors.

Morneau on Wednesday raised the prospect of foreign funding, saying “plenty of investors would be interested” if Kinder Morgan Canada (Toronto:KML.TONews) walked away from the project.

“We have very sophisticated Canadian pension funds and institutional investors that have a high level of understanding of how you embark on infrastructure projects and a great deal of experience around the world in bringing those projects to completion,” Morneau told Reuters in an interview.

Morneau declined to say whether the government was in active discussions with potential investors.

 

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Kinder Morgan CEO “Appreciates” That Government Will Compensate Investors

With our money, no doubt:

The CEO of Kinder Morgan Canada Ltd. says he “appreciates” an announcement by Finance Minister Bill Morneau that the government will compensate investors in the proposed Trans Mountain pipeline expansion if “unnecessary delays” cause costs to rise.

Morneau says the government is willing to “provide indemnity” to any investors, be they the project’s original architects or otherwise, to ensure the controversial Alberta-B.C. project is able to proceed.

 

When not being drunk (hat tip: SDA), Justin is finding ways to destroy the economy.

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Alberta Declares Victory in Trans-Mountain Appeal

SEE: fire, fat, out of:

Alberta Premier Rachel Notley is calling a recent court decision on the Trans Mountain pipeline expansion project a definitive victory.

The Federal Court of Appeal on Friday dismissed the B.C. government’s bid to challenge a National Energy Board ruling that allows Kinder Morgan Canada to bypass local bylaws during construction of the pipeline expansion which would triple the amount of crude flowing from Alberta to a port facility in Burnaby, B.C.

The court also ordered B.C. to pay the legal costs.

“Another victory for our economy. Another victory for our climate plan. Another victory for the pipeline and another victory for all Albertans and all Canadians,” Notley said Monday at an unrelated transit announcement.

The federal government approved the pipeline expansion in 2016, but the project faces significant opposition in B.C. Thousands of people have rallied in protest and the provincial government has raised concerns about the pipeline’s possible environmental and economic impact.

B.C. Environment Minister George Heyman said the government is disappointed by the court’s decision and suggested it undermines the local permitting process.

“The provincial government has steadfastly assured administrative fairness, while we defend B.C.’s interests by insisting on high standards for environmental protection and First Nations consultations,” he said in a statement Monday.

“Our government will continue to explore other legal ways to defend the interests of British Columbians against this unnecessary project.”

 

 

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The Prophet’s Bankers

One wonders what future historians will write about Saudi Arabia. Will there even be a future historians, or at least Western historians? Saudi Arabia has already changed the world enormously and will continue to do so – perhaps it might even oversee the downfall of Christian civilisation. There are recent signs Saudi might be moderating, but this may be simple tactics considering the proposed $2 trillion flotation of oil giant ARAMCO on London and New York markets.

h/t CS

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Article: “Canada to watch from the sidelines amid ‘extraordinary times’ in global energy markets”

Read the whole thing:

Two major trends are unfolding in global oil and gas markets, but Canada seems unable to take advantage of the first one, and is already an unfortunate casualty of the other, says a new report.

First, the world’s energy demand will rise the equivalent of China and India’s current energy consumption over the next three decades — but Canada has limited direct conduits to connect those energy-hungry markets to its store of the world’s third-largest oil reserves.

The second development, which has already dented the Canadian oilpatch, is the rise of U.S. tight oil and gas that is taking dollars and focus away from the Western Canadian industry.

The global energy markets are in the midst of “extraordinary times”, writes Fatih Birol, executive director at the International Energy Agency in its annual World Energy Outlook, launched in Paris on Tuesday.

The benchmark report notes that with renewable energy technologies nipping at the heels of oil, natural gas and coal and a global push by policymakers to cut carbon emissions, juxtaposed with near-insatiable demand from a global population that will hit 9 billion within a few decades and the rise of the U.S. as the world’s largest oil and gas producer, the energy sector is experiencing disruptive times.

Amid these upheavals, Canada will likely remain a minor actor, its global plans dashed partially through self-restraint and rules, and also by its next-door neighbour who is upending global markets and disrupting Canada’s plans to export oil and gas in the process.

 

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